Binance pledged to cover user losses from an Oct. 29, 2026, hack in which attackers stole about $6.3 billion from its hot wallets. Analysts told Cointelegraph the pledge helped contain the market fallout, but that is their assessment, not a measure of the hack’s full impact.
Binance’s daily net outflows fell from $6.1 billion on Nov. 2, after withdrawals resumed, to $458 million in the 24 hours before publication, according to DefiLlama. Bitcoin fell as much as 5.7% in the first five days after the hack. Bitfinex analysts said confirmation of a market bottom depended on the Consumer Price Index reading due Nov. 10.
